Novautek Technologies Group Limited — Earnings Release 2000

Nov 23, 2000

Listed Company Information

APPLIED INT'L<0519> - Results Announcement Applied International Holdings Limited announced on 23/11/2000: (stock codes: Ord: 519 & War: 744) Year end date: 30/6/2000 Currency: HK$ (Audited) (Audited) Last Current Corresponding Period Period from 1/7/1999 from 1/7/1998 to 30/6/2000 to 30/6/1999 ('000) ('000) Turnover : 226,852 86,832 Profit/(Loss) from Operations : 14,219 10,371 Finance cost : (12,157) (11,066) Share of Profit/(Loss) of Associates : 38 (3,906) Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 20,547 17,000 % Change over Last Period : +20.9% EPS/(LPS)-Basic : 2.2 cents 1.8 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : Nil Nil Profit/(Loss) after ETD Items : 20,547 17,000 Final Dividend per Share : Nil Nil (Specify if with other options) : Nil Nil B/C Dates for Final Dividend : - Payable Date : - B/C Dates for Annual General Meeting : 18/12/2000 to 22/12/2000 bdi. Other Distribution for Current Period : Nil B/C Dates for Other Distribution : Nil Remarks: (1) PROVISION FOR IMPAIRMENT LOSS OF OTHER SECURITIES SSAP 24 has introduced a new framework for the classification of investments in securities. In adopting SSAP 24, the Group has selected the alternative treatment for securities other than held-to-maturity securities. Under the alternative treatment of SSAP 24, investments in securities are now classified as held-to-maturity (carried at amortised cost less provision for irrecoverable amounts), trading securities (carried at fair value, with valuation movements dealt with in the income statement) and other securities (carried at fair value, with valuation movements dealt with in equity). The accounting treatment specified by SSAP 24 has been applied retrospectively resulting in a decrease in deficit and an increase in the investment revaluation reserve at 1st July, 1999 of HK$455,000 and HK$16,013,000, respectively, and a revaluation decrease in the current year of HK$14,563,000. Comparative information has been restated to reflect this change in accounting policy. (2) EARNINGS PER SHARE The calculation of the basic earnings per share is based on the profit for the year of HK$20,547,000 (1999: HK$17,000,000) and on the weighted average number of 948,742,575 (1999: 959,064,958) ordinary shares of the Company in issue during the year. No diluted earnings per share has been presented for both years as the conversion of the Company's outstanding convertible bonds would result in an increase in net profit per share and the subscription prices of share options and the exercise price of the warrants were higher than the market price of the Company's shares during both years.